Problema Solution
George invested some money at 5% simple interest and $2000 more at 6%. The interest for the year totaled &670. How much was invested at each rate?
Answer provided by our tutors
5%: x
6%: x+2000
So
5%x+6%(x+2000)=670
So
x = 5000
So he invested $5000 in 5% and $7000 in 6%